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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 FY22

₹ crore	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q4 FY22	Q3 FY22	Q2 FY22
Revenue from operations	705	736	597	587	607	628	645	626	651	525	472	478	455	562	538	556	499	422	340
Other income	4.1	−0.6	5.6	1.7	8.3	3.4	3.9	5.6	2.4	1.5	2.5	1	1.5	4.5	−0.3	1.7	2	−0.3	2.3
Total expenses	576	625	548	519	508	500	496	507	523	413	400	423	409	457	423	416	357	313	271
EBITDA	179	169	103	132	163	173	183	178	176	155	123	108	95.2	155	167	180	175	141	101
EBITDA margin	25.4%	22.9%	17.2%	22.5%	26.9%	27.6%	28.3%	28.5%	27.1%	29.6%	26.0%	22.6%	20.9%	27.5%	31.0%	32.5%	35.1%	33.5%	29.6%
Finance costs	7.2	15.8	11	21.8	23.4	11.8	−0.1	27.3	14.3	13.7	20.2	21.3	18.3	19	21	14.4	11.8	10.4	9.7
Depreciation	42.9	41.7	42.8	42.3	41.5	34	32.9	32.3	33.5	30.4	30.9	31.5	30.8	30.1	30.8	25.9	21.1	21.8	21.7
Profit before tax	133	111	54.6	70	107	131	154	124	131	113	74.2	56.1	47.6	110	114	142	144	109	71.3
Tax	34	28.6	15.5	18.4	−53.7	44.4	50	43.9	45.1	36.2	24.9	17.9	15.9	33.3	37.2	50.1	45.1	39.2	24.3
Net profit	99.7	81	39.1	51.2	161	86.9	104	81.3	85.9	77.3	49.1	38	31.5	76.7	77.2	91.6	99.1	69.7	47
Net margin	14.1%	11.0%	6.5%	8.7%	26.5%	13.8%	16.1%	13.0%	13.2%	14.7%	10.4%	7.9%	6.9%	13.6%	14.4%	16.5%	19.9%	16.5%	13.8%
EPS (₹)	23.12	18.76	9.07	11.87	37.25	20.14	24.25	19.57	20.67	18.60	11.81	9.14	7.58	18.47	18.58	22.04	23.85	16.78	11.31
Net profit YoY	−37.9%	−6.8%	−62.3%	−37.0%	+87.1%	+12.4%	+111.1%	+114.0%	+172.5%	+0.7%	−36.4%	−58.5%	–	−22.6%	+10.7%	+94.8%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22
Revenue from operations	2,527	2,550	1,929	2,188	1,551
Other income	15	15.2	6.5	8	4.1
Total expenses	2,200	2,025	1,645	1,674	1,172
EBITDA	567	711	481	689	509
EBITDA margin	22.4%	27.9%	24.9%	31.5%	32.9%
Finance costs	72	53.3	73.5	65.5	44.3
Depreciation	168	133	124	109	85.9
Profit before tax	342	540	291	522	383
Tax	8.8	183	94.9	169	131
Net profit	332	358	196	353	253
Net margin	13.1%	14.0%	10.2%	16.1%	16.3%
EPS (₹)	76.95	84.68	47.13	85.03	60.84
Net profit YoY	−7.2%	+82.7%	−44.6%	+39.8%	–

EPS is as filed for each period and is not restated for later bonus issues or splits.

Cash flow

annual · ₹ crore

₹ crore	FY26	FY25	FY24	FY23	FY22
Operating cash flow	436	441	398	626	284
Investing cash flow	−355	−262	−401	−437	−455
Financing cash flow	−94.5	−164	−7.6	−200	195
Capital expenditure	394	195	398	416	456
Free cash flow (CFO − capex)	41.4	246	−0.8	210	−172

Net profit trend

annual, ₹ crore

FY22

₹253

FY23

₹353+40%

FY24

₹196−45%

FY25

₹358+83%

FY26

₹332−7%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	27 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	27 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	2 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	2 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	30 Jan 2026	PDF XBRL
Q3 FY26	Standalone	30 Jan 2026	PDF XBRL
Q2 FY26	Consolidated	10 Nov 2025	PDF XBRL
Q2 FY26	Standalone	10 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	4 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	4 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY264.28 MB FY25 FY24 FY23 FY22 FY21

Key ratios

P/E (TTM)5Y avg 17.3×16.9×

P/B5Y avg 4.30×2.06×

ROEFY26, on average equity16.1%

Net margin13.1%

Debt / equity0.25×

Revenue CAGR (3Y)4.9%

Profit CAGR (3Y)-2.1%

EPS (TTM)₹62.82

Market cap₹4,575 Cr

Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.

P/B vs history

2.06×

vs 8-point avg 4.30× (−52%)

1.57× low4.30× avg7.04× high

History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.

Balance sheet 31 Mar 2026

Total assets₹3,505 Cr+11%

Net worth₹2,221 Cr+17%

Total borrowings₹563 Cr−4%

Cash & bank balances₹5 Cr−73%

Investments₹0 Cr−100%

Inventories₹349 Cr−10%

Trade receivables₹417 Cr+79%

Trade payables₹260 Cr+40%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Oct 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	68.83	68.83	68.83	68.83	68.83	68.95	68.94	68.94	71.58	71.58	71.49	71.38
FII	1.03	1.54	2.36	2.71	3.05	3.01	3.01	3.02	2.09	1.47	1.36	1.18
DII	5.56	4.90	5.13	4.92	4.79	4.66	4.31	3.81	1.17	0.18	0.02	0.05
of which MF	5.52	4.90	5.09	4.74	4.59	–	–	–	–	–	–	–
Retail	17.88	17.93	17.16	17.02	16.96	16.97	17.37	17.83	18.51	19.82	20.16	21.19
Other public	6.70	6.80	6.52	6.52	6.37	6.41	6.37	6.40	6.65	6.95	6.97	6.20

76,305 shareholders · NSE shareholding pattern filings.